Overview of Verubyu Otaru Kouen (ヴェルビュ小樽公園)
Verubyu Otaru Kouen (ヴェルビュ小樽公園) is a 26-year-old condominium located at Otarushi Hanazono 2 Choume 4-8 (小樽市花園2丁目4-8), Hokkaido, Japan. Built in 2000, it comprises 28 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Toda Kensetsu (戸田建設).
Pricing & Floor Plans
Based on 24 past listings, prices have ranged from 1,680〜2,800万円 (approx. $112,000–$186,667 USD at ¥150/$).
Unit sizes range from 85.3–103.8 sqm (918–1117 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 4SLDK (4-bedroom w/ living-dining-kitchen + service room), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥21.0万/sqm (approx. $1,403/sqm or $130/sqft).
Location & Neighborhood
The property is located at Otarushi Hanazono 2 Choume 4-8 (小樽市花園2丁目4-8), Hokkaido, Japan. It is a 9-minute walk to the nearest station. This is considered good station access by Japanese standards.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 26 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
Analyze this property's fair price and negotiation room for free at RE:public.